Ceragon Networks Ltd. (NasdaqGS:CRNT) entered into a definitive agreement to acquire Siklu Communication Ltd. on October 23, 2023. Th enterprise value would be of $13-15 million. As consideration to Siklu?s shareholders, Ceragon will issue approximately 1.5 million ordinary shares.

The consideration amount to Siklu SH (in Ceragon Shares) of $3 million. Ceragon is expected to assume financial liabilities of approximately $10-12 million, of which approximately $2.5 million are classified as long-term debt. The closing of the transaction is subject to customary closing conditions.

Ceragon expects the deal to close by the end of 2023. Needham & Company, LLC acted as financial advisor to Ceragon Networks.